August 9, 2011 - Azerbaijan has produced over 1.6 bln kVt/hour during July, 2011, up 23% from June
August 9, 2011 - Travelport is setting up new business operations for the first time in Kazakhstan, led by one of Travelport’s longstanding distributor partners.
Global Travel Distribution Kazakhstan LLP, an enterprise of Singapore-based Global Travel Services Pte Limited and an existing Travelport distributor in four countries, will provide local travel agents with access to the Galileo and Worldspan GDS platforms and technology as well as offer customer support.
August 9, 2011 - Oil and gas company Tethys Petroleum has opened up its Doris oil production facilities in Kazakhstan.
According to the company, oil is currently being trucked from this location at a rate of about 1,500 barrels of oil per day (bopd), which will increase to 2,000-2,500bopd with the new production facilities.
August 2, 2011 - The World Bank ’s Board of Directors today approved a US$ 30 million equivalent amount for the Economic Recovery Support Operation (ERSO) for the Kyrgyz Republic.
This operation is designed to support Government’s reforms for improving governance and strengthening accountability mechanisms, and for post-conflict recovery, transition to medium term growth and poverty reduction. The ERSO program includes a highly concessional IDA credit of US$ 16.5 million and an IDA grant of US$ 13.5 million
August 5, 2011 - The World Bank (WB) plans to approve funding for four new projects in Azerbaijan in 2012 fiscal year, the head of the WB office in the country Joseph Owen said to a news conference on August 5.
Supporting Poland’s Transition toward a Low-Emissions Future
June 20, 2011 - How can the Bank work with a client on a global issue like climate change? What are the challenges of offering models based on still-evolving research? How can a Bank team engage effectively in policy dialogue with an EU member state as it prepares to implement EU regulations?
These were the questions facing the ECA PREM team when it first considered work on Transition to a Low-Emissions Economy in Poland in late 2008. Three months after a successful launch of the report, the team shares insights on how highly complex cutting-edge technical analysis can generate significant buzz and be seen by the government as useful input for policy discussions.
In late 2008, the European Union adopted a climate change package to lower greenhouse gas emissions by 20 percent by 2020. Meeting those obligatory targets was, at the outset, thought to be impossible for Poland, a country which generates over 90 percent of its electricity from coal. With attention turned to the impact of the global financial crisis, it took some time for Poland to wake up to the reality that the country needed to plan for a low-carbon future.
For more information on the Transition to a Low-Emissions Economy in Poland, please visit
July 1, 2011 - Poland takes over the European Union Presidency from Hungary as Europe struggles with the debt crisis. Poland has achieved strong economic growth since becoming an EU member. The once communist country also has managed to avoid recession in the wake of the 2008 global financial crisis. Warsaw will preside over difficult negotiations on the bloc's new economic governance rules and its next long-term budget.
But as a nation that does not use the common European currency, Poland will not influence decisions on how to stabilize the euro.
August 9, 2011 - The Swiss franc appreciated to record levels against the euro and dollar as investors spooked by concern global growth is stalling sought the safest assets.
The franc strengthened against all of 16 major peers tracked by Bloomberg as Switzerland’s government said yesterday it agrees with the central bank’s contention that the franc is “massively overvalued.” European equities were little changed after earlier dropping as much as 5.1 percent, while Swiss stocks slid for a 12th day, extending the longest losing streak since at least 1988
September 3-4, 2011 - Joint IMF and World Bank Constituency Meeting will be held in Turkmenbashi.
Turkmenistan will host this meeting at a time when the country celebrates its 20th Year of Independence.
The Constituency Meeting will again feature a seminar on a topic of common interest. The theme of this year’s seminar will be “Macroeconomic Stability and Banking Sector Development”. The seminar aims to provide valuable insights and foster a candid policy dialogue among Governors and representatives of the constituency countries.
High level staff from IMF and World Bank will provide their assessment on these important and complex topics.